Monday saw US stocks gain ground, building on the solid performance of last week. The positive sentiment is due to the anticipation of a busy week for earnings, with major companies like Amazon and Apple scheduled to report their first-quarter results. Additionally, important economic data such as the Fed meeting and the jobs report will be released this week.
As investors gear up for these events, equity indexes were trending higher on Monday morning, setting a positive tone for the week ahead. With valuations near the upper end of their 20-year range, positive earnings reports will be crucial in driving the market higher.
Investors are eagerly waiting for key earnings reports from companies such as Amazon and Apple, which are slated for release after market close on Tuesday and Thursday respectively. On the economic front, all eyes will be on the Federal Reserve’s FOMC meeting on Wednesday, with investors looking for insights into the economic outlook and future policy decisions.
Another major event to watch this week is the April jobs report, expected to be released on Friday. Economists are forecasting a gain of 250,000 jobs, following a strong showing in March. Amid these developments, US indexes opened positively on Monday morning.
On commodities markets, West Texas Intermediate crude oil and Brent crude both saw slight declines while gold prices dipped slightly. The 10-year Treasury yield edged lower and Bitcoin also experienced a minor decrease in value. It’s shaping up to be an eventful week for investors as they closely monitor earnings reports and economic indicators while keeping an eye on geopolitical developments that may impact global markets
